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How to not let a promotion ruin you

Tuesday, February 13th

Getting more money because of a raise is always a good thing right? Well...maybe. Find out how to avoid letting a promotion ruin you financially!

00:21:34

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Hello again Amazon com that's your own fault hello. Hello my name is Chris DeVon and you wish you know Chris Evans. And that is what do I need to be today. Let's go with Agnes. Weiner should Exel. Well now. I was interest and now that's that's my that's the team when when I'm out at a bar in a guy's sitting on meanings that what you name and I don't wanna give my real name that's been naymick and that's that's super believe it will be exactly out why would not think that you were trying to blow me off at all. Agnes Wiener Schmitz a name and number in your phone and I type in agony sweeteners and it's all the summit about this that that means sounds. German to me is that she cancels that line I would say that's why I think Weiner should cancel is a German. Danish. Has it does sound idea okay sounds Camille cleaners and shackles that so it. This is something that I haven't had the DOS on my. So like good and bad luck that I feel like a lot of people the will spend what they half. Right so. Two era talk about how to not let it promotion ruin you financially. Exactly and how to get actually get rich off of a promotion instead of just like adapting to the promotion and spending more because you're making ray. Wimbledon is built bulls don't have rights we get promotion are making what ten more grand years I bet. So now you find a way to spend ten more grand a year a crappy don't eat right and what I think about is like right now. Making the peanuts that I make. I had everything I need I really deal went I thought you were literally talking about making peanuts for a second I was likely is this going. You know you you grow peanuts so don't make them and they have. Have. Your farmer and Abdullah ray yeah Jimmy Carter was a peanut farmer in Q eyes. He keeps going a mile that apple you look that up yet you know you never pay attention MySpace. On so I had everything right now that I need. In life and I safari get a promotion glitzy I a you've got 20000 dollars you subpoena armor Pentax and now I can sleep at night that. There's nothing that I would pilot that that I meet it would all be just wants. If you got a race event generates yes I have food I have shelter I mean and I by the way I go on trips I mean I do things you can he can save your money. So I mean. Why so Rachel how are people that that make a 160000 dollars a year in debt that's the stuff that I don't understand like that happen. Yeah or how to they have lessons savings that you do or the same amount in savings as you were idea I mean mind boggling I'll tell you how it happens because when IE before I was working here. I was living in New York City and I had. Good paying job but the problem was that the more money I made the more money I spent an 8 o'clock in the classic mistake of low. I got a razor I got you know I got a higher paying jobs so I don't deserve this 120. Dollar. Laser urge rest or I deserve this ten dollar smoothie that I used to get like every single day like all had it moves like that you yeah. Well so I do think. That you should treat yourself I think that if you get a promotion you should go on like big meeting a week a treat yourself weeks yet you on to say are we gonna blazer to celebrate or when I get. That's who the every day for a week get out your system right take a trip somewhere you know got Kabul come lowers that have been a place I don't go. So vital Cog Hill where is an at its latest cop votes one cop out hobbled and then enough couples in Lucas I think of Kabul while Bo that's the tequila. In regard to diet you'd probably drink their anyways so. Where is it seemed Lewis Kabul Koppel's sit and Lucas Mexico San Lucas aka wow you need to brush up on Laguna Beach that show because it's right clearly a lot. Why now that's okay to do that as an exact test this weekend. Cancel all plans is what's meant to be re runs from 04. They are Smart anyway so take a trip there treat yourself but don't make it habit. Well I have to tip release and not making an habit. Not making any of it have that right so. Siri and there are now you can afford a ten dollar smoothie don't do it every day or. By that laser once but don't start shopping every single weekend and that's what I stirred doing that was another thing I you know I was living in Manhattan and so how old was right down the arrows like the most expensive place in the planet exactly and so I did you know hit a czar run. Bloomingdale's the different stores that were down there and it was great but like. I kept I kept the money to spend I just wasn't saving any thing in health and yeah. Once all balanced too so. I guess so if you're living right now like paycheck to paycheck and you wish you could do so like that. Then we get the erosion. You know as long as your principal way and you have enough that spending money then fine right. You know there is a balance there I think we got to do is like find a way your priorities are fresh slate for example like I love. Lichter. Yeah and WTO I really do like a hobby it is a not not like an alcoholic and dwindling Alex Scott Charlie tequila would know it just like try to Flickr's. So if I were to get this promotion I would probably start toll spent a little bit more like OK maybe I can try that out whatever type of you know scotched. Ali. That being said I'm not gonna buy a bottle label every day. Right every week exactly every time you have people are whatever you're just gonna not get the most expensive Scotch but here and there. You know you can treat yourself think you did you soul searching. Yeah publicly that what your priorities chart like okay what really matters to me if I had money what I spend and I'm kind of like. I'm trying to think right now if IE. If 101000 dollars just fell on Mir right out of the sky okay. What I do you know what what I did and I think you probably go to the hospital because a lot of money. It in my hospital bill. So that according to this this article that I found unwise Brad dot com it's the eight money moves that you should make them you get that promotion and the number one thing is built an emergency fund so really. If you get an a raised. Like you know like you were saying I think you spend. Something you know treat yourself Blake. Spend 500 dollars may even a thousand that put the other 9000 into an emergency because it's a huge accomplishment in and promotion you should go out to those drinks with friends you know going to dinner right in yourself and let it now. But the real back and take a trip to tablet combo or rendered you know we wanna do yeah how look how. Replica of baby. And I think I think it's just because like again you when you when you do. Get that bump in your salary it's still attempting to all of now we can afford things always did but. That's where people make the mistake at some of those get some of the guys you want to always wanted to don't get things just to get things right also here's the thing jobs. Are not a sure thing you could get laid. Any time especially you know it our economy's pretty good right now you could still. You can get laid off at any time and then there you are like ball and not any. Brett not anymore. Right exactly no more champagne trio it's like there's someone there is there's a friend of ours that we have on do share friend. I think socially just and you're few minutes ago yeah so she's just alcoholic. Species may Pamela I I've told early intervention what you need to stop she asked me for help cleaning water closets actually with her close up. Create the we know what she's introducing replace that would yes. And get a day I have an idea until there (%expletive) like and a scarf on and answer to that was new which is that a given now. I make I guess that's a problem. Oh my god I can't even imagine having so many clothing items that I didn't know if it was new exact. Actually when and where and what Sarah and what phase of my life I got everything I have seen enough this is interest in com. In a very non interest in kind of way but just to me I have boxers that I think I've worn thief for over ten years. I Wear my dad's old boxers that's how like all I think it's about now if I said I want to Wear my boss Danny. So straight. Like he's. Okay it will. I don't know at an eye Ayatollah has bear is bear manhood. Within and it's it's not my chairwoman I have underwear on lenders protection at which arts. You Wear any short skirmish Tibet but yet know here's the because we are it's not so I I like them because they're really big. So it's like I can eat and this is a total side note and related but. I hate how women's lounge ware has to be like Q ever has to be cute it's like I. I wanna beat you when I'm going to bet I just wanna be comfortable as a my dad's like. Big you know boxers are great because they're large is or whatever and so they're just like. Good for him so compare minds yet I don't I just a different music and Webber do you get a get a once he's what you need. It's one Z the trauma comparable now I'd I'd like the boxer shorts with a nice oversized teacher good it done one and done and it's okay. So any science you know I like you a really nice form pitting cute you know when I'm gonna bedside queue up I want my mom's underwear our tight this year I could find. Crock pot the night where I can envision I think what's really troubling is I'm actually envisioning you right now in light a female all fitted. Tank top. And like cute little shorts would like flowers on them thank you and it's a very disturbing image and yet he's an hour and a good luck sleeping tonight you know eating ever again I'm not and I wanna bring up as far as all of this Garros and this is something that we have this little sign on my refrigerator when I was growing up my mom printed it out. Pause. Breathe. Think she used learn today is that from chicken soup for the soul probably when you get that raise. Any dissent it does sit on it because I agree the impulse buys are what are gonna get Jack. Let's get a did you and you get scarves even realize he bought exactly and then somebody asks you like oh nice arc is that new I don't know why but so many. Things I can't value and that pause pause breathe. Bank bank choose learn. So you're learning that could be a poster. That once it was on our refrigerator it was a Catholic. Aka. It's like now I think my mom moved over to the covered but we still happen and now of course it was actually more like in relation to the family dysfunction of arguing at that time in my life but. It can be applied to other things as well. You know keep playing anything they can be applied to Utley basically anytime you're about to talk to me you need deposit freak thing choose line. And so this is our last podcast together. Think if you. Yeah they are all of your listeners sent collected in the fridge was illegal magnet. You want us focusing on this and China picture how big was that about five behind technical school. Picture and send it now can you don't have to do that al-Qaeda what can OK so. Let out what it's become the pause. Breeding whenever you know whenever you're gyrating and every dorm so those things one of those things that should be enough pausing is making a budget yeah. And I think you should update your budget when you get up promotion if you don't have a budget a hot. On you not to be hero and a yourself ask someone where I have cited some friends who went to finance school. Exactly you're talking about Alfred you have no idea though. Agassi did was anything imminent yeah but this okay so these guys think they're good at what they do write my dad also was like a really good but leader slam you know. So ask for help yeah have them help you set up a good budgets you know and what's weird. I when I first did this I first meet a budget. On not long after I actually got my first full time job because my dad was like you need to do is bro sit with my dad yet he's got to do this he said brown keeps my mind that it just like that brought. Bomb. And I never even thought of that before that yeah and it was I don't mean what I was spending money on. Yeah I was glad to dinner a lot more than I thought it was. Yeah. We'll tell you when I was living so this was before New York I was living in LA and I was younger I was like 2223 at the time so I was. I was on ally and I mean easily easily spend its. Eighty bucks on drinks on a night out you know a fight like. You know deep on around the way things are so expensive out there or were you exactly twenty bucks a cut off. Yes I mean that's crazy but. But I remember you know my dad who at the lake we had a joint bank account so he could like put money in my account and he'd be like why did you spend this you know like he'd ask me questions and and it really made me stop and think okay. And making money for the first time in my life to have like a real job at big girl job whatever but like. Yet need to you need to be aware of what. Spending. And also now gone no god that I was I was asked so is it weird and my mom is still on my count. My dad is too. And get out you know. I'm still is but she's only if violate die early give it some who might need on yet she is she isn't it is she knows like the password on which you can you can log on. Issue would ever make any changes but she is on it I think. It's if you it's not a path and the reason we did it was so that I can get like. It better. Interest rate or something and fellow I think I couldn't open it without her and I just kept it we when I was in college because my dad would put to you know I had a weekly allowance auction college so that was why but. It has never. Exchanged. Yes just like he's on you've optimized phone plan I am I wasn't talking to sustain and a boomerang millennial like keep. Well don't don't feel bad because I was talking to someone who were teacher who's in her like late thirties yeah and she's a wild somehow pulled plow my parents she has a Stanley. Home which whatever that's fine simulate it seems a lot of money at just find that it seemed that people do that forever once you have your own family. Work her that did her kids are too young to have a phone so lake. Still I don't know who were her husband made her husband's partner for you know his is the end to pattern like. I don't know. Very well OK so wait I just I I just saw this on this website that you that I'm looking at tonight at it I'm. I'm flabbergasted. One of these things are supposed to do when you get arrays that says ask for a credit limit increase are you kidding I think they'll be horrible idea this is a horrible idea because now. You're already tempted to use your credit right now I am. So I think that's like the worst well they actually were arm. IE up to count your disagreement I don't disagree that you. Okay you should not buy things on credit they don't have pots. Ager and make a big purchase the you can put on to a credit card to get that sweet cash back bonus yeah. And do that a few of the money OK but I still think that's just gonna be tempting because what is what's 1% of 9000 dollars. Ignited rock nine. The ninety's so Santa can do is wow is Arlen well I know I'll why it is a court. You using a calculator and a calculator married that's. Doesn't count it does I exit can't figure out the calculus I got to raise our area where people want. All of my god ninety bucks seem I was reds had a double John I'm very confident with my method line that magic box you get back from one to see that 9000 dollar purchase of the team bottom oh I don't know how our car and I don't know people buy yet he put on that yeah. People expect any books in have to force again and that is reach your credit limit. That's event wise it's it was I don't think. I don't think that's worked in ninety dollars as long as you can as long as you're responsible enough to know OK I'm not going to use this over. That's a big that's a huge if tablet healing fruits discipline. Hal now that's and I can't handle it okay adaptation did. You red lake. And then not to get like relays I'm not religious but like have you read the by like tension is the downfall of femininity like you've you know bit theatrical and it was all over. Okay so. Usually when you go to wegmans or were you go to buy your food you only eye candy because it's right there I can't handle the temptation now you buy fruits five vegetables are byters Arnold pizza. I mean I need. Brett you know main food groups so you buy your discipline there wanna have discipline in your finances to my great and then you do get the candy when you you know decide you want to candy and same thing. Green that you should have discipline I'm just saying this is like going against everything that I think we're talking about which is that when you get that raise you shouldn't make. Those new you like. I will I'm only I'm only siege do that as a hack to get extra money on only if you have a reason to say like even aged yet raised nearly okay I'm by car. I should probably keep my card credit or I don't I've never I don't know I never heard of some so there are big purchase is complete and currently ask you know yeah. Forgot wanna put on a ton of cash back from flights booked and want to flights. The credit card. You don't I actually don't do when my car insurance for my car insurance or pay for every year one batch. On on my credit card okay and regulate 25 blocks three in cash back east which is like at five Beers at a bar for doing nothing and just having the discipline to pay that off and only a tiny. Ax and a dollar spot in my bank account now to click this once a year. Might I guess the only reason that I am against this is because I guy got credit limit increased recently for no reason I mean they are mostly hate congratulations and the first thing like not a blessed. I could like do anything like I could go up like I'm just sitting that temptation is there and I paused I'd read the broadcast via IE eight will listen chosen what Netanyahu gets and I. I'm Garnett and now and I know but the biggest thing was the iPods and I thought I was like now if I booked a flight to Europe and on six month. Trip with this credit limit that would be a horrible devastating. Decision to make people. I had a beverage and Ida and maybe just the way I was raised or just different ideology Brad never saw a credit limit as like. Free money relate more money had to see it as like it that's money. It's what it's like you have the freedom to do it and then you can pay it back later which it's a horrible thing I'm just saying it's like. It's an option that allows you to like get where you wanna go org do you wanna do and unjustly deal that later. A horrible thing to dale heat so are you do you classify yourself as he progressed in her sometimes. It depends. I hate putting things off so I think let me be anxious to do that that's the thing I getting exciting and I procrastinate I I still procrastinate income in the Atlanta. So. The moral of the story here I do moral story. Find out what personal treat yourself yet. Celebrate the domain and have it. On you'll probably natural increase your spending and put me extra time things that you prioritizes like OK this is and that really matters Mueller for me the lakers. You know. I can give that just sounds like maybe you need to invest in. Something so I NS. International soul and think about like it valid argument or come backer insult but yeah. Yeah like my my fine Scotch is no way you would you prioritize what would you buy if you had let's say you got a raise of 40000. Dollars you could die via. I think the first thing I would do feel. Is I would go on a trip I would go monitored because I really wanna travel and so I would get that out of my system and then again okay I'll update my wardrobe a little that I wouldn't go for like a thousand dollars we don't you update like once it's not like you're exactly he scarves every day and right now exactly be a onetime thing the trip that might be like total. In 86000 out of 40000 dollars and I put eyed beast you know putting arrest. The miss out of the question that someone asked me today that I was intercede pretend your millionaire got okay armed. And you decide to put it fast food courts in your basement. What for. Fast food restaurants would you put that food court. Subway. Pictures and chip poll like who in an out. And some candidly. Deserter like frozen yogurt I'll tell younger Atlanta and here's how sounds good. I think I think he got an anti Hanson there possibly like why why is this relevant it's not relevant which is like a question I want nasty and ask you what has nothing to do with our podcast share. Now it had nothing to do it any lies not so here and it does a case of the C got a million dollar promotion they decide to do this it totally it totally goes with it. I anything to do it budgeting and how do you think. How does anything go with anything and disinterested when your god it's good to think about I have so LA. Now some million dollars yet I have been here in this record your basement. You got to have thick anti ends I think what you're miss seeing in your four is a major miss seeing an Asian food restaurant. And yes I would have a guy full time giving out samples to just me. Every hey. God I got out that that was a thing that happened in like the late nineties and early 2000 what do you mean that wasn't vintage look guys still there Ivan Bender the food court in fifteen years lesson that investors. Bomb and I haven't done what gives you I guess that's because things together throughout. Five.